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By Clare Duffy and Brian Fung, CNN (CNN) — Amazon has agreed to pay more than $30 million to settle two federal lawsuits alleging that the tech giant violated users’ privacy — including that of children — through its Alexa voice assistant and its Ring doorbell cameras. The twin settlements Wednesday with the Federal Trade
Continue ReadingBy Chris Isidore, CNN New York (CNN) — Ever have a car with a difficult-to-reach seatbelt? This recall is for you. Ford is having to recall 176,000 of its Ford Bronco SUVs, model years 2021 to 2023, because the National Highway Traffic Safety Administration found that drivers and front seat passengers can have difficulty reaching
Continue ReadingBy Matt Egan, CNN New York (CNN) — Jamie Dimon is arguably the most powerful person in corporate America. Dimon has built a banking empire at JPMorgan Chase and his advice is sought by presidents, prime ministers and central bankers. Now that he’s conquered the business world, Dimon is signaling an openness to at least
Continue ReadingBy Allison Morrow, CNN New York (CNN) — Big Tobacco is reportedly positioning itself as a socially conscious investment. The CEO of Philip Morris International told the Financial Times he believes investors who have dropped the tobacco company’s stock in recent years will eventually come back in light of its pivot toward vapor-based nicotine products,
Continue ReadingBy Brian Fung, CNN Washington (CNN) — A Fidelity fund has slashed its estimate of Twitter’s value amid ongoing chaos at the company, implying the social media platform may be worth only a third of its value compared to when Elon Musk acquired it in October. According to a monthly disclosure, Fidelity’s Blue Chip Growth
Continue ReadingBy Nathaniel Meyersohn, CNN New York (CNN) — Dollar General is the fastest-growing retailer in America, opening about 1,000 stores a year. But following repeated violent incidents and federal workplace safety violations at stores, some Dollar General workers and labor advocates are calling for stronger safety and health protections. Workers and their allies are rallying
Continue ReadingBy Catherine Thorbecke, CNN (CNN) — Amazon corporate workers staged a walkout on Wednesday to signal a “lack of trust” in the company’s leadership, in what is perhaps the most visible sign of dissent among the e-commerce giant’s office workers in recent memory. On Wednesday afternoon, organizers of the walkout said more than 1,000 corporate
Continue ReadingBy Elisabeth Buchwald, CNN New York (CNN) — President Joe Biden and House Speaker Kevin McCarthy finally reached an agreement to avert the United States’ first default on its debt — but you may want to hold your applause. There could be an even more dramatic second act to the debt ceiling drama. Here’s why:
Continue ReadingBy Alicia Wallace, CNN Minneapolis (CNN) — The number of available jobs in the United States unexpectedly rose in April, bucking economists’ predictions after a three-month stretch of declines. Job openings climbed to 10.1 million in April from an upwardly revised 9.745 million the month before, according to labor turnover data released Wednesday by the
Continue ReadingBy Laura He, CNN Hong Kong (CNN) — The United States sanctioned more than a dozen Chinese and Mexican companies on Tuesday, accusing them of shipping or selling equipment that makes counterfeit pills, as it cracks down on imports of illegal fentanyl that fuels America’s deadly opioid epidemic. The sanctions were directed at seven entities
Continue ReadingBy Laura He, CNN Hong Kong (CNN) — Factory activity in China has slumped to its weakest level since the country ended its zero-Covid policy in December, as its economic recovery continues to lose steam. Asian markets tumbled following the release of the May data, even as a tentative agreement brokered by US President Joe
Continue ReadingBy Samantha Delouya, CNN (CNN) — Members of the billionaire Sackler family will be protected from current and future lawsuits over their role in their Purdue Pharma’s opioid business, a New York court of appeals ruled Tuesday. The ruling clears the way for a bankruptcy deal for Purdue Pharma, which is owned by the family.
Continue ReadingCNN By Elisabeth Buchwald, CNN New York (CNN) — The faucets at the US Department of the Treasury are set to turn back on after nearly five months of frozen pipes. In a vote on Thursday evening, the Senate approved a measure to suspend the nation’s debt limit through January 1, 2025. President Joe Biden
Continue ReadingCNN By Catherine Thorbecke, CNN (CNN) — Thousands of Microsoft Outlook users briefly reported issues accessing their email accounts on Monday morning. More than 15,000 users reported issues with Microsoft 365, the web version of the Microsoft Outlook application, according to outage-tracking site DownDetector. Reports of the outage began to tick up at around 10
Continue ReadingBy Matt Egan, CNN New York (CNN) — US oil prices dropped below $70 a barrel Tuesday on concerns about whether the debt ceiling deal will make it through Congress and on reports of tensions between Saudi Arabia and Russia ahead of a key OPEC+ meeting. Crude slumped 4.4% to close at $69.46 a barrel,
Continue ReadingBy Catherine Thorbecke, CNN (CNN) — Once a Silicon Valley icon and paper billionaire, Elizabeth Holmes will now have to wake every morning at 6 a.m., hold a job paying as little as $0.12 an hour, and share bathing facilities at a prison camp in southern Texas. Holmes reported to the Federal Prison Camp in
Continue ReadingBy Matt Egan, CNN New York (CNN) — The debt ceiling deal in Washington did not set off a celebration in the stock market. But the bipartisan compromise is causing fireworks for some companies that have emerged as winners. Shares in pipeline company Equitrans Midstream surged Tuesday because the agreement contains a surprising call to
Continue ReadingCNN By Nicole Goodkind, CNN New York (CNN) — Booming demand for its AI chips has landed Nvidia (NVDA) a prime spot in one of the most exclusive clubs on Wall Street: The chipmaker hit a market cap of $1 trillion on Tuesday. It’s just the ninth company globally to have achieved such a feat,
Continue ReadingBy Nicole Goodkind, CNN New York (CNN) — Booming demand for its AI chips has landed Nvidia (NVDA) a prime spot in one of the most exclusive clubs on Wall Street: The chipmaker hit a market cap of $1 trillion on Tuesday. It’s just the ninth company globally to have achieved such a feat, and
Continue ReadingCNN, KGO By Catherine Thorbecke, CNN (CNN) — Once a Silicon Valley icon and paper billionaire, Elizabeth Holmes will now have to wake every morning at 6 a.m., hold a job paying as little as $0.12 an hour, and share bathing facilities at a prison camp in southern Texas. Holmes reported to the Federal Prison
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